In an effort to cut costs amid rising cocoa prices, Hershey Co. has announced plans to re-focus on core brands like Reese’s and Kit Kat.
CEO Michele Buck told the Wall Street the company hopes to cut the number of holiday varieties and displays it provides to retailers in half and make a smaller number for distribution nationwide to “generate massive efficiency,” according to bizjournals.com.
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In March, the company broke ground on a $60 million expansion of its Kit Kat manufacturing plant in Hazelton, Pennsylvania, Forbes reported. Hershey has called Kit Kat its “next $1 billion global brand,” Forbes reports.
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